Beanstalk Farms

Proposer: Beanstalk Farms

Summary: Beanstalk Farms proposes changing the start of the Barn Raise from Monday, May 2 at 4:00pm UTC to Monday, May 9 at 4:00pm UTC.

Reasoning: The immediate goal of Beanstalk Farms is to recapitalize and safely relaunch Beanstalk.

Since the exploit on April 17, Beanstalk Farms, Bean Sprout and Publius have had many conversations with capital sources about participating in the Barn Raise. Some of these discussions have indicated strong interest in negotiating an OTC deal with the DAO as part of Beanstalk’s recapitalization effort.

It’s uncertain whether these conversations will ultimately alter the process outlined in The Path Forward (https://bean.money/blog/path-forward), but Beanstalk Farms believes that allowing sufficient time for these conversations to transpire will maximize the amount of liquidity that Beanstalk is able to recapitalize prior to Unpausing. Beanstalk Farms thinks that this is a good problem to have and is excited to see that there may be multiple paths forward for Beanstalk.

As a result, Beanstalk Farms believes that it is in the best interest of the DAO to move the start of the Barn Raise back one week to Monday, May 9 at 4:00pm UTC.

Note that this Snapshot is only meant to allow for more time for these conversations to mature and it does not indicate any terms or commitments. Should any of these conversations with capital sources materialize into a deal to help recapitalize Beanstalk, it would be presented to the DAO in the form of a Snapshot and would be voted on as such.